EMCR vs. FRDM

Last updated Jun 23, 2026

EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - EMCR is a Emerging Markets Equities fund tracking the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 5 years, EMCR returned 9.77%/yr vs 20.53%/yr for FRDM. Their correlation of 0.82 suggests significant overlap in exposure. EMCR charges 0.15%/yr vs 0.49%/yr for FRDM.

Performance

EMCR vs. FRDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and Freedom 100 Emerging Markets ETF (FRDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMCR achieves a 25.27% return, which is significantly lower than FRDM's 49.24% return.

EMCR

• 1D: 0.42%
• 1M: 7.36%
• YTD: 25.27%
• 6M: 26.91%
• 1Y: 50.14%
• 3Y*: 24.41%
• 5Y*: 9.77%
• 10Y*: —

FRDM

• 1D: 0.13%
• 1M: 12.84%
• YTD: 49.24%
• 6M: 53.92%
• 1Y: 101.71%
• 3Y*: 38.21%
• 5Y*: 20.53%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMCR vs. FRDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	25.27%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	12.57%
FRDM Freedom 100 Emerging Markets ETF	49.24%	61.27%	1.70%	22.77%	-14.45%	6.13%	16.90%	12.23%

Correlation

The correlation between EMCR and FRDM is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 23, 2019	0.82

The correlation between EMCR and FRDM has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

EMCR vs. FRDM - Sectors Allocation Comparison

Sectors	EMCR	FRDM
Technology	42.2%	48.9%
Financial Services	18.9%	19.4%
Consumer Cyclical	9.6%	7.1%
Communication Services	8.8%	3.2%
Industrials	6.3%	7.6%
Healthcare	5.0%	1.5%
Basic Materials	3.5%	6.4%
Consumer Defensive	2.5%	1.9%
Real Estate	1.7%	2.0%
Utilities	1.4%	2.1%
Energy	0.1%	0.0%

Return for Risk

EMCR vs. FRDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMCR

EMCR Risk / Return Rank: 74
EMCR Sharpe Ratio Rank: 77
EMCR Sortino Ratio Rank: 69
EMCR Omega Ratio Rank: 78
EMCR Calmar Ratio Rank: 74
EMCR Martin Ratio Rank: 73

FRDM

FRDM Risk / Return Rank: 93
FRDM Sharpe Ratio Rank: 96
FRDM Sortino Ratio Rank: 92
FRDM Omega Ratio Rank: 93
FRDM Calmar Ratio Rank: 93
FRDM Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMCR vs. FRDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and Freedom 100 Emerging Markets ETF (FRDM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EMCR	FRDM	Difference
Sharpe ratio: Return per unit of total volatility	2.36	3.76	-1.40
Sortino ratio: Return per unit of downside risk	3.03	4.22	-1.19
Omega ratio: Gain probability vs. loss probability	1.44	1.63	-0.19
Calmar ratio: Return relative to maximum drawdown	3.64	6.06	-2.42
Martin ratio: Return relative to average drawdown	13.38	23.38	-10.00

EMCR vs. FRDM - Sharpe Ratio Comparison

The current EMCR Sharpe Ratio is 2.36, which is lower than the FRDM Sharpe Ratio of 3.76. The chart below compares the historical Sharpe Ratios of EMCR and FRDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMCR vs. FRDM - Drawdown Comparison

The maximum EMCR drawdown since its inception was -34.28%, smaller than the maximum FRDM drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for EMCR and FRDM.

Drawdown Indicators

	EMCR	FRDM	Difference
Max Drawdown Largest peak-to-trough decline	-34.28%	-40.49%	+6.21%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-16.87%	+3.03%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-16.87%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-34.28%	-29.25%	-5.03%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.29%	-7.07%	-2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	4.37%	-0.61%

Volatility

EMCR vs. FRDM - Volatility Comparison

The current volatility for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) is 10.20%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 14.15%. This indicates that EMCR experiences smaller price fluctuations and is considered to be less risky than FRDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMCR	FRDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.20%	14.15%	-3.95%
Volatility (6M) Calculated over the trailing 6-month period	19.05%	24.80%	-5.75%
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	27.26%	-5.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	21.48%	-1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	23.15%	-3.09%

EMCR vs. FRDM - Expense Ratio Comparison

EMCR has a 0.15% expense ratio, which is lower than FRDM's 0.49% expense ratio.

Dividends

EMCR vs. FRDM - Dividend Comparison

EMCR's dividend yield for the trailing twelve months is around 1.40%, less than FRDM's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.40%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%
FRDM Freedom 100 Emerging Markets ETF	1.47%	2.26%	2.53%	2.66%	2.72%	2.17%	1.11%	1.07%	0.00%

Frequently Asked Questions

Can I hold both EMCR and FRDM in my portfolio?

EMCR and FRDM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMCR or FRDM?

FRDM has higher volatility (14.15%) compared to EMCR (10.20%). In terms of maximum drawdown, EMCR dropped -34.28% vs FRDM's -40.49%.

Which ETF is better, EMCR or FRDM?

On 5-year performance, FRDM leads with 20.53% vs 9.77% for EMCR. On fees, EMCR is cheaper at 0.15% per year. On volatility, EMCR has been the lower-risk option at 10.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMCR or FRDM?

Over the 5-year period, FRDM has performed better with a 20.53% return vs 9.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMCR or FRDM?

EMCR is cheaper with a 0.15% expense ratio, compared with 0.49% for FRDM.

Which ETF pays a higher dividend yield, EMCR or FRDM?

FRDM has the higher dividend yield at 1.47%, compared with 1.40% for EMCR.

What is the main difference between EMCR and FRDM?

EMCR is categorized as Emerging Markets Equities, while FRDM is Emerging Markets Diversified. EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: Deutsche Bank and Freedom Funds. Their fees differ too: 0.15% for EMCR and 0.49% for FRDM.

Which has better risk-adjusted returns?

FRDM currently has the higher Sharpe Ratio (3.76 vs 2.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.